Answer Happy

Financial calculator COMPARISON #4 Monthly payments for 10 years with an annual interest rate of 4% compounded monthly. Monthly payments for 10 years with an annual interest rate of 8% compounded monthly. Select the better option (the least amount of total interest paid) 4% 8% Show calculations to determine if doubling the interest rate will result in paying exactly double the interest. √ Submit 4% INTEREST Present Value Payment Amount Future Value Annual Interest rate Periods (number of payments) Compounding Calculate Total Interest paid: 8% INTEREST Present Value Payment Amount Future Value Annual Interest Rate Periods (number of payments) Compounding Calculate Total Interest paid: 32,000 0 4 Monthly 32,000 0 8 Monthly